When visiting the Philippines, the currency you'll use is the peso, or piso. Currently, one U.S. dollar roughly corresponds to 48 pesos and one euro is equal to roughly 68 pesos. Other currencies you can exchange are the Japanese yen, the British pound, the Canadian dollar and the Australian dollar. The U.S. dollar is still the most prized currency in the Philippines, even if its exchange rate isn't as high as the euro.
Things You'll Need
- Exchangeable currency
- Valid passport
Before departing for the Philippines, ensure that you withdraw only crisp and clean notes from your bank. Some institutions and money changers won't take torn or worn bills. Also, pack a calculator so that you can check the accuracy of any money that is exchanged.
After going through customs at Ninoy Aquino International Airport, find the money changers. They are located right outside customs, before you exit the terminal. Exchange a small amount of currency to give you enough cash to pay for transportation and any other immediate expenses. Additional changers and banks, including Banco De Oro and Bank of the Philippines, can be found at the major Manila shopping malls.
Show your passport to the teller if you are asked for identification.
Always count your money before leaving and double check the accuracy with a calculator. Get a receipt for your records.
Tips & Warnings
- Do not exchange cash on the streets.
- Exchange your money in Manila before traveling to the provincial regions.
- Credit cards are accepted at the major retailers and hotels. Traveler's checks are only exchangeable in the cities. In the Philippines, however, cash is always preferred.
- Pay close attention to the rates of exchange, which fluctuate on a daily basis. The rates are posted at the banks and money changers, and can also be found in the local papers.
- As part of their foreign exchange policy, some banks may attempt to photocopy your passport.
How to Convert Pesos to Dollars
Three of these nations are Mexico, the Philippines and Chile. ... Money Market & Currencies; Currency Exchange Rates; How to Convert Pesos...
How to Exchange Money in London
This list overviews the various places to exchange money and the possible charges that are associated with these ... How to Exchange...
How to Convert Euros to Philippine Pesos
The euro is a common currency in 12 nations throughout Europe. If you are preparing to travel, you may be curious about...
History of the Philippine Stock Exchange
The Philippine Stock Exchange first appeared in 1993, but its history runs much longer. ... money section. Saving & Spending. Budgeting; Banking;...
How to Send Money to the Philippines
How to Exchange Money in the Philippines. When visiting the Philippines, the currency you'll use is the peso, or piso. Currently, ...
How to Invest in Stocks in the Philippines
The Philippines are a growing economy with a long history of American involvement. The Philippine Stock Exchange ... When you invest money,...
How to Change a Surname Under Philippine Law
money; health; More eHow; Featured: Holiday Allergies. eHow; ... How old do you have to be to change your name in the...
How to Invest in the Philippine Stock Market
Prices may display in the native currency, which requires you to make exchange rate calculations before you trade. ... The Philippine Stock...
How to Get a Money Order
In most cases, you'll need to buy the money order with cash, though some financial institutions will allow you to pay with...
How to Get a Taxi at Manila Airport
These taxis are unlicensed people with cars trying to make money by providing transportation. ... Manila. The Ninoy Aquino International Airport (NAIA)...